Horizon Kinetics LLC Increased Icahn Enterprises LP (NASDAQ:IEP) by $220.91 Million as Shares Declined


Murray Stahl increased its stake in Icahn Enterprises Lp (NASDAQ:IEP) by 500939.43% based on its latest 2016Q2 regulatory filing with the SEC. Horizon Kinetics Llc bought 3.51M shares as the company’s stock declined 1.13% while stock markets rallied. The hedge fund run by Murray Stahl held 3.51 million shares of the integrated oil company at the end of 2016Q2, valued at $221.13M, up from 700 at the end of the previous reported quarter. Horizon Kinetics Llc who had been investing in Icahn Enterprises Lp for a number of months, seems to be bullish on the $6.96B market cap company. The stock is up 0.72% or $0.36 after the positive news, hitting $50.47 per share. About 11,887 shares traded hands. Icahn Enterprises LP (NASDAQ:IEP) has risen 4.24% since February 8, 2016 and is uptrending. It has underperformed by 12.24% the S&P500.

Horizon Kinetics Llc, which manages about $5.39 billion and $4.03 billion US Long portfolio, decreased its stake in Autonation Inc (NYSE:AN) by 482,966 shares to 2.65M shares, valued at $123.47M in 2016Q2, according to the filing. It also reduced its holding in Continental Resources Inc (NYSE:CLR) by 115,386 shares in the quarter, leaving it with 584,758 shares, and cut its stake in L Brands Inc (LTD).

Murray Stahl earned his B.A. and an M.A. from Brooklyn College before obtaining an MBA from Pace University. He was employed as a senior portfolio manager and research analyst by Bankers Trust Company for 16 years. In 1985, Stahl founded Horizon Kinetics, which would become the parent company of Horizon Asset Management Horizon Kinetics Llc is a New York-based hedge fund that was founded by Murray Stahl. It had more than $5.39 billion assets under management in April, 2014. Taken from Horizon Kinetics latest Adv, the fund reported to have 81 full and part-time employees. Among which 21 performing investment advisory and research functions. The hedge fund had more than 3700 clients.

The institutional sentiment decreased to 0.86 in Q2 2016. Its down 0.38, from 1.24 in 2016Q1. The ratio turned negative, as 10 funds sold all IEP shares owned while 26 reduced positions. 8 funds bought stakes while 23 increased positions. They now own 133.62 million shares or 4.63% more from 127.71 million shares in 2016Q1.

Texas Yale Capital Corp. holds 0.37% of its portfolio in IEP for 68,200 shares. Global X Management Co Llc owns 117,964 shares or 0.32% of their US portfolio. Moreover, Citigroup Inc has 0.29% invested in the company for 5.27 million shares. The New York-based National Asset Management Inc. has invested 0.22% in the stock. Advisory Services Network Llc, a Georgia-based fund reported 7,438 shares.

Icahn Enterprises L.P. is a diversified holding company. The company has a market cap of $6.96 billion. The Company’s operating divisions include Automotive, Energy, Metals, Railcar, Gaming, Food Packaging, Mining, Real Estate and Home Fashion. It currently has negative earnings. The Company’s Investment segment comprises various private investment funds.

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